GBPNZD Local S/R| Swing High| .382 Fibonacci| Price Action
Evening Traders,
Today’s analysis – GBPNZD- trading above Local S/R, acceptance here is indicative of strength,
Points to consider,
- Price Action Impulsive
- Local S/R Support (.382 Fibonacci Confluence)
- Daily S/R Target
- RSI Bullish Control Zone
GBPNZD’s immediate price action is impulsive above Local S/R which is in technical confluence with the .382 Fibonacci; price action is likely to have a bullish reaction here.
Daily S/R is current resistance that has a highly probability of being tested once swing high objective is taken out.
The RSI is trading in its respective bullish control zone, holding these regions are indicative of strength in the market.
Overall, in my opinion, GBPNZD is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“You will never find fulfillment trading the markets if you don’t learn to appreciate and be satisfied with what you already have.” ― Yvan Byeajee
Today’s analysis – GBPNZD- trading above Local S/R, acceptance here is indicative of strength,
Points to consider,
- Price Action Impulsive
- Local S/R Support (.382 Fibonacci Confluence)
- Daily S/R Target
- RSI Bullish Control Zone
GBPNZD’s immediate price action is impulsive above Local S/R which is in technical confluence with the .382 Fibonacci; price action is likely to have a bullish reaction here.
Daily S/R is current resistance that has a highly probability of being tested once swing high objective is taken out.
The RSI is trading in its respective bullish control zone, holding these regions are indicative of strength in the market.
Overall, in my opinion, GBPNZD is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“You will never find fulfillment trading the markets if you don’t learn to appreciate and be satisfied with what you already have.” ― Yvan Byeajee